How the Banco Master scandal injected chaos into Brazil’s presidential race
Author: Euan MarshallPublished on: October 2, 2026Country: Brazil
Politics

The Banco Master scandal, one of the largest fraud cases in recent Brazilian history, has cast a shadow over the ongoing presidential campaign. Incumbent Luiz Inacio Lula da Silva, seeking a fourth term, and his main rival, Flavio Bolsonaro, have both been impacted by the scandal, which involves business leaders, politicians, regulators, and judges. Voter distrust is high, with rejection rates over 50% for both candidates, leading to low enthusiasm. The scandal has significantly shaken Brazil's political landscape ahead of the Sunday election.
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